Tuktu Resources Expands Land Holdings and Initiates Horizontal Drilling in Southern Alberta

Jasper Mining ( (TSE:TUK) ) has shared an announcement.

Tuktu Resources Ltd. has significantly expanded its land holdings in the oil-rich deep basin of southern Alberta, adding approximately 27.75 gross sections to its portfolio. This expansion aligns with the company’s strategic focus on developing its new pool discovery in the region. Furthermore, Tuktu has commenced drilling its first horizontal well in this newly discovered reservoir, with the project expected to be completed within a month. The existing vertical discovery well has shown promising results, averaging 425 barrels per day with minimal water content, indicating a strong potential for future production.

More about Jasper Mining

Tuktu Resources Ltd. is a publicly traded junior oil and gas development company based in Calgary, Alberta. The company focuses on producing oil and gas properties in southern Alberta.

YTD Price Performance: 63.16%

Average Trading Volume: 712,667

Technical Sentiment Consensus Rating: Sell

Current Market Cap: C$40.27M

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